The president of the Mozambican Stock Exchange (BVM), Salim Valá, raised the possibility of new companies being listed by the end of the year to join the 16 currently listed, Lusareported on Monday (19).
‘Several companies have informed BVM this year of their intention to be listed, and they are in the adaptation and preparation phase, so it is foreseeable that by the end of the year we may have some companies listed,’ said Valá, during the presentation of the balance sheet on the stock exchange’s activity in the first half of the year at the 15th edition of the CTA’s Economic Briefing.
At the start of 2023, BVM had 12 listed companies and over the course of the year it added four more, all directly on the third market, which is the main market. In addition to this market, BVM also has a second market made up of WEIYUE (consultancy and management), Zaya Group (poultry industry), Trassus (furniture trade) and RGS AGRO (sugar industry).
However, the chairman of BVM emphasised that the growth of the stock market cannot depend solely on the voluntary will of private companies.
‘Our experience teaches us that the growth of the share market cannot depend exclusively on the voluntary choice of companies, but must also rely on the inductive role of the state. Companies of high economic importance in the country must make their contribution to the growth of the market,’ he added.
Finally, he argued that ‘healthy companies’ in the state business sector, companies obliged to go public, banks, insurance companies, mobile phone operators, cement companies, extractive industry companies and others exploiting natural resources ‘should be listed’, even if only ‘for a minimum percentage of their share capital’.
